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After the recent G20 meeting, the IMF Chief Christine Lagarde has not ruled out a possibility of Bail-In of Cyprus banks. A Bail-In means that Cyprus bank depositors will lose part of their deposits as a measure of saving Cyprus banks. The previous Cyprus government had never considered this outcome…


The Central Bank has asked the International Lenders for approval to officially inform banks about their recapitalization needs, in a suitable way to enable the banks to accurately announce to investors, their financial results for 2012. The deadline for publishing the first results is February 28th.…


A financial rescue package for Cyprus must be linked to close and continuous monitoring of its progress in implementing anti-money laundering policies, the European Central Bank Chief Mario Draghi said yesterday. Mario Draghi informed European lawmakers that the crucial part was implementing all relevant…


The Sunday president election has failed to produce a clear winner. The right-wing candidate Mr Anastasiades has emerged as the winner but failed to secure a victory in the first round. He will now face Mr Malas who is supported by the outgoing president. It is widely anticipated that Mr Anastasiades…


Cyprus: from bad to worse

The situation in Cyprus is deteriorating as the outgoing government has failed to secure a bail-out from Troika. Instead, the EU officials are talking about bail-in where Cyprus bank deposit holders have to take so-called haircut. This will be the final blow to the Cyprus banking system. As this news…


Germany and ECB clash over Cyprus

The European Central Bank is currently at odds over with the German Finance Minister, Wolfgang Schaeuble, over the consequences of not bailing Cyprus out and what this would mean for the Eurozone as a whole. Negotiations on a 17.5 billion euro rescue package for Cyprus which began in November 2012 are…


A number of Singaporean MP's are suggesting that foreign office workers have to be replaced with the local workforce as their education level and experience gained increases. These MPs want to give priority for locals ahead of any foreigners. A minority are suggesting introducing a "Certificate of Eligibility"…


Cyprus in crisis: what lies ahead?

Interesting comments were made by some of German leading politicians regarding Cyprus bailout. They have stated that they do not rule out a Cyprus default. They have stated that the Cyprus economy is small and the Cyprus default would not be considered as a systematic failure for EU. However, the European…


Cyprus is going through tough time

The Cyprus government is trying to negotiate better terms and conditions for its bailout from the Troika. The major difference between position of the Cyprus Government and the Troika are in relation to the Cyprus government's disagreements with privatisation of semi-government organisations such as…